Ford to replace CEO Mark Fields with James Hackett: Forbes

Ford Motor Co. president and CEO Mark Fields makes a major announcement during a news conference at the Flat Rock Assembly Plant in Flat Rock, Michigan, U.S. January 3, 2017.

Ford Motor Co Chief Executive Mark Fields will leave the carmaker as part of a shake-up that includes other top executive changes, Forbes reported late on Sunday, citing a person familiar with the situation.

James Hackett, head of Ford Smart Mobility LLC, will become its new CEO and an announcement could come as early as Monday morning, Forbes reported.

The shakeup is a result of Executive Chairman Bill Ford and the rest of the board losing confidence in Fields' leadership, Forbes reported, citing people familiar with the matter. http://bit.ly/2qG5tkg

Ford will also replace group vice president of communications, Ray Day, with Mark Truby, vice president of communications for Ford's Asia-Pacific operations, Forbes said.

A Ford spokesman in Europe declined to comment "on speculation or rumors."

"We are staying focused on our plan for creating value and profitable growth," the spokesperson said.